New support for retailers and tenants announced by Network Rail

King cross Network Rail Retailers
Credit: Network Rail

Yesterday, Network Rail announced support for retailers and tenants at their stations. Trading is expected to be greatly impacted by the Coronavirus pandemic.

All 1st quarter rent payments due from tenants will be cancelled with immediate effect.

In addition Network Rail will be cancelling all base rent payments at their managed stations for the first quarter of the new financial year.

There are around 100 retailers across the stations and around 1000 small and medium business tenants, Network Rail has written to them all to advise them of these changes.

What did the officials say?

David Biggs, managing director for Network Rail Property, said:

“We work in partnership with retailers and tenants to provide positive experiences for passengers and communities. In challenging times, it is important we step up to the plate and show our partners they are valued, and we are ready and willing to help. That is why we have taken this decisive action today.

“We also understand more support may be required as this situation develops. We will continue to liaise with central Government and will keep speaking with our retailers and tenants about how we can assist further.”

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